At the time of the South Korean financial crisis, the merchant banks were
A) almost virtually unregulated.
B) subject to heavy government regulation.
C) engaged in long-term lending to the corporate sector.
D) restricted to long-term foreign borrowing.
A
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When the price of popcorn falls, before there is any change in consumption, the
A) marginal utility of popcorn definitely increases. B) marginal utility per dollar from popcorn definitely increases. C) total expenditure on popcorn definitely rises. D) entire total utility of popcorn curve definitely shifts rightward.
The payroll tax rate is 12.4% on an amount of income adjusted annually for inflation called the wage base (e.g., $97,500 for the year 2007). Half of the tax is withheld from the employee's pay with the other half being paid by the employer
How might this tax be viewed as regressive?